Analysts Anticipate ServiceNow, Inc. (NYSE:NOW) Will Announce Earnings of -$0.05 Per Share
Equities research analysts predict that ServiceNow, Inc. (NYSE:NOW) will post earnings per share of ($0.05) for the current quarter, Zacks reports. Ten analysts have provided estimates for ServiceNow’s earnings, with estimates ranging from ($0.10) to $0.00. ServiceNow reported earnings per share of ($0.15) in the same quarter last year, which suggests a positive year over year growth rate of 66.7%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that ServiceNow will report full year earnings of ($0.34) per share for the current fiscal year, with EPS estimates ranging from ($0.43) to ($0.25). For the next year, analysts anticipate that the firm will report earnings of $0.00 per share, with EPS estimates ranging from ($0.27) to $0.39. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover ServiceNow.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 30.72%. ServiceNow’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share.
A number of research analysts recently commented on the company. OTR Global cut ServiceNow to a “positive” rating in a report on Friday, July 14th. Guggenheim reissued a “buy” rating and issued a $120.00 price target (up from $108.00) on shares of ServiceNow in a report on Thursday, July 27th. Barclays PLC boosted their price target on ServiceNow from $120.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. boosted their price target on ServiceNow from $110.00 to $126.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 27th. Finally, Cowen and Company reissued an “outperform” rating and issued a $123.00 price target (up from $110.00) on shares of ServiceNow in a report on Thursday, July 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $115.96.
In other ServiceNow news, Director Frederic B. Luddy sold 102,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $110.09, for a total value of $11,229,180.00. Following the transaction, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,231,907.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO David Schneider sold 2,243 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $97.04, for a total value of $217,660.72. Following the completion of the transaction, the executive now directly owns 47,654 shares in the company, valued at approximately $4,624,344.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 731,884 shares of company stock worth $79,049,745. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. increased its position in shares of ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 245 shares during the period. Barrett Asset Management LLC acquired a new position in shares of ServiceNow during the second quarter valued at approximately $117,000. Global X Management Co. LLC increased its position in shares of ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares during the period. Hartford Financial Management Inc. acquired a new position in shares of ServiceNow during the first quarter valued at approximately $125,000. Finally, TLP Group LLC acquired a new position in shares of ServiceNow during the first quarter valued at approximately $131,000. 97.53% of the stock is currently owned by institutional investors.
ServiceNow (NOW) opened at 109.71 on Monday. The company has a 50 day moving average of $107.37 and a 200 day moving average of $95.91. The company’s market capitalization is $18.70 billion. ServiceNow has a 52-week low of $71.25 and a 52-week high of $115.85.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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